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Jun 30, 2020
Ameris Bank Q2 2020 Earnings Report
Ameris Bank's financial results were announced for the second quarter of 2020.
Key Takeaways
Ameris Bancorp reported a net income of $32.2 million, or $0.47 per diluted share, for the quarter ended June 30, 2020. The adjusted net income was $42.4 million, or $0.61 per diluted share, for the same period.
Net income was $32.2 million, or $0.47 per diluted share.
Adjusted total revenue grew by $67.7 million, or 30.0%, compared to the first quarter of 2020.
Income from mortgage banking activity increased by $69.6 million compared to the first quarter of 2020.
The adjusted efficiency ratio was 51.08%, compared to 59.87% in the first quarter of 2020.
Ameris Bank
Ameris Bank
Ameris Bank Revenue by Segment
Revenue by Segment
Retail Mortgage Revenue
CapyFin.comWarehouse Lending Revenue
CapyFin.comBanking Division Revenue
CapyFin.com Forward Guidance
The challenges of COVID-19 and the global economy certainly affect how we do business, but our bankers have quickly adapted to the new operating environment.
Positive Outlook
- Successfully managed deposit costs to improve the margin by 13 basis points.
- Funded over $1.4 billion in new loan growth (including PPP loans).
- Mortgage division continued to see historic production and profitability.
- Increased our allowance for credit losses on loans to over $208 million.
- Still earned $32 million for the quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income